Griffin Mining (LON:GFM) Hits New 1-Year High – Should You Buy?

Griffin Mining Limited (LON:GFM)’s stock price reached a new 52-week high during trading on Monday . The company traded as high as GBX 215 and last traded at GBX 210, with a volume of 239549 shares traded. The stock had previously closed at GBX 204.

Analyst Upgrades and Downgrades

GFM has been the subject of several research analyst reports. Berenberg Bank restated a “buy” rating and set a GBX 200 price target on shares of Griffin Mining in a report on Tuesday, September 9th. Canaccord Genuity Group upped their price objective on Griffin Mining from GBX 220 to GBX 240 and gave the stock a “buy” rating in a report on Tuesday, October 7th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of GBX 220.

Griffin Mining Stock Up 4.1%

The company has a quick ratio of 0.98, a current ratio of 1.76 and a debt-to-equity ratio of 0.25. The company has a 50 day simple moving average of GBX 191.22 and a two-hundred day simple moving average of GBX 186.17. The company has a market capitalization of £404.58 million, a P/E ratio of 46.73 and a beta of 0.76.

About Griffin Mining

Griffin Mining Limited (“Griffin” or “the Company”) is a mining and investment company, incorporated in Bermuda in 1988 whose shares were admitted to trading on the Alternative Investment Market of the London Stock Exchange (“AIM”) in 1997.
The major asset of the Company is an 88.8% interest in Hebei Hua Ao Mining Industry Company Limited (“Hebei Hua Ao”) through its wholly-owned Hong Kong subsidiary, China Zinc Limited (“China Zinc”), which holds licences, the operating mine and processing facilities (the “Caijiaying Mine”) near Zhangjiakou City in the People’s Republic of China (“PRC” or “China”).